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All Forum Posts by: Rogelio Nunez

Rogelio Nunez has started 2 posts and replied 2 times.

Hello everyone, Question about calculating your ROI/Cashflow on property. When you close on a property, mortgage payments are in arrears so your first payment won't be due until next month. That first rental income you receive what do you calculate it against? For example Downpayment $40000 closing $10000. Other fees turning water on/appraisals etc$1000 $51000 opening cost. So obviously we calculate this against projected gross rent- minus debt service capex vac...and we receive our cash on cash return %. I have a situation were on closing a duplex on the Nov 3rd I recieved prorated rent, one of the tenants rent due on 20th and other 1st. By the time I payed first mortgage payment Jan 1st I received 4 rent payments plus prorated rent. Totaling $4600. How do I factor this? Against opening cost or divide into monthly cash flow? Best regards, Ro
Hello everyone, So I just closed on my first rental property a duplex on Nov 2nd...9 days ago. During the inspection I met the tenant in Unit 2, they are on a month to month lease and have been living in the unit little over a year now. It is safe to say they probably broke every single lease provision. Every door broken in the unit, holes in the wall vanity cracked and water damaged. Smoking, car graveyard, and drug use etc. Aside from the misuse, the unit needs extensive repair from heavy use. My plan was to turn over the unit. Here in Florida the notice is 15 days minimum. The plan was to take collect rent and give them their notice to vacate with expiration being Nov 30th. I was prepared to evict invade they became a hold over tenant. Problem they did not pay rent, so on the 11/6. I posted the 3 days to pay or vacate with expiration on 9th. Of course they did not pay and I finally heard from they on the 10th asking how to pay rent. I hired the lawyer to set up the eviction. So my question is should I accept rent and give them the 15 day notice risking to start this process and wait again? Or continue with the eviction? Thank you for you responses